Ally Financial Inc. $ALLY Shares Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in Ally Financial Inc. (NYSE:ALLY) by 27.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,700 shares of the financial services provider’s stock after purchasing an additional 19,600 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ally Financial were worth $3,412,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ALLY. Tocqueville Asset Management L.P. acquired a new position in shares of Ally Financial during the second quarter valued at about $17,613,000. State of Wyoming bought a new stake in shares of Ally Financial during the second quarter worth about $3,195,000. Amundi raised its holdings in shares of Ally Financial by 183.5% in the 2nd quarter. Amundi now owns 274,754 shares of the financial services provider’s stock worth $12,625,000 after acquiring an additional 177,832 shares during the last quarter. Berkshire Hathaway Inc acquired a new stake in shares of Ally Financial in the 2nd quarter worth about $1,240,650,000. Finally, Bank of America Corp DE raised its holdings in shares of Ally Financial by 7.1% in the 1st quarter. Bank of America Corp DE now owns 2,889,620 shares of the financial services provider’s stock worth $113,360,000 after acquiring an additional 190,514 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

ALLY has been the subject of a number of recent research reports. Zacks Research lowered Ally Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Royal Bank Of Canada decreased their price target on Ally Financial from $55.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft set a $56.00 price target on Ally Financial in a research report on Wednesday, October 21st. JPMorgan Chase & Co. increased their price target on Ally Financial from $43.00 to $44.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. Finally, The Goldman Sachs Group set a $45.00 price objective on Ally Financial in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.93.

Ally Financial Stock Performance

Shares of Ally Financial stock opened at $38.59 on Tuesday. The business’s fifty day simple moving average is $39.70 and its 200 day simple moving average is $41.89. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.45. Ally Financial Inc. has a 12 month low of $35.92 and a 12 month high of $47.29. The firm has a market capitalization of $11.74 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 0.32 and a beta of 1.11.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Tuesday, October 20th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Ally Financial had a return on equity of 12.11% and a net margin of 16.84%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts anticipate that Ally Financial Inc. will post 4.99 EPS for the current year.

Ally Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 2nd will be issued a $0.35 dividend. This is an increase from Ally Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Monday, November 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.6%. Ally Financial’s payout ratio is presently 27.52%.

Insider Buying and Selling at Ally Financial

In related news, insider Kathleen Patterson sold 12,831 shares of the stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $38.65, for a total transaction of $495,918.15. Following the completion of the transaction, the insider owned 67,781 shares in the company, valued at approximately $2,619,735.65. This represents a 15.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.46% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc is a digital financial services company headquartered in Detroit, Michigan, and traded on the New York Stock Exchange under the symbol ALLY. The company primarily serves consumers, automotive dealers and businesses in the United States through online and branchless banking and financing platforms.

Ally’s automotive finance business provides retail installment loans and leases to consumers and floorplan financing and other services to automotive dealers. Its consumer banking operations, conducted through Ally Bank, offer deposit products such as savings accounts, money market accounts and certificates of deposit, along with consumer lending products.

The company also provides credit cards and commercial financing, and offers investment and brokerage services through Ally Invest.